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9107 Raintree Lane Charlotte, NC 28277

3 Beds 2 Baths 2,021 sqft Built 1982

$339,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $167.74
  • 6 Days on Market
  • MLS # : 3689900
  • Updated Date : 12/26/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full
Listing Agent

Prostead Realty

Listing Agent's Description

Raintree is one of the most sought after neighborhoods in all of South Charlotte. Situated perfectly so you have easy access to all that South Charlotte has to offer - top rated schools, shopping, dining and easy access to 485, Providence Road and Hwy 51. Here is your chance to get into this amazing location at a reasonable price. This brick ranch is the perfect canvas to move right in and enjoy South Charlotte living or make a few updates to make this gem shine. This home features vaulted ceilings in the living room and kitchen, wood burning fireplace, HUGE owner's suite with custom bath, flat lot on an almost 1/2 acre and a 2 car detached garage. Plus, Raintree Country Club boasts 36 holes of golf, driving range, tennis courts and clubhouse. If you enjoy country club life this deal gets even sweeter because the initiation fees to the club are waived for Raintree residents. Hurry in and make this home yours before time runs out on 2020 and this amazing opportunity.

SEE MORE

MARKET HIGHLIGHTS

  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)
  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)

PRICE & RENT TRENDS

Neighborhood: Raintree

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Raintree

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442064

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Olde Providence Elementary School Primary Regular 717 39 9
South Charlotte Middle School Middle Regular 856 41 9
Providence High School High Regular 1,991 94 9

Olde Providence Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 39
9
GreatSchools Rating

South Charlotte Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 41
9
GreatSchools Rating

Providence High School

  • Education Level: High
  • # of students: 1,991
  • # of teachers: 94
9
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,251
Property Tax -$296
Property Insurance -$65
HOA -$27
Property Management Fees -$119
CASH FLOW
$32

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$339,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$28,451

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7903$1,7954$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 9107 Raintree Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 4300 Kuykendall Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 1956 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 1956
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 8614 Golf Ridge Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 1984
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 9000 Raintree Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 1973
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 9416 Whitethorn Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1977
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Josh Jolley
1.828.319.7206
Prostead Realty
BESbswy